Sea monsters are the stuff of legend - lurking not just in the depths of the oceans, but also

the
darker corners of our minds. What is it that draws us to these creatures?

"This inhuman place makes human monsters," wrote Stephen King in his novel The Shining. Many
academics agree that monsters lurk in the deepest recesses, they prowl through our ancestral minds
appearing in the half-light, under the bed - or at the bottom of the sea.

"They don't really exist, but they play a huge role in our mindscapes, in our dreams, stories, nightmares,
myths and so on," says Matthias Classen, assistant professor of literature and media at Aarhus University
in Denmark, who studies monsters in literature. "Monsters say something about human psychology, not the
world."

One Norse legend talks of the Kraken, a deep sea creature that was the curse of fishermen. If sailors
found a place with many fish, most likely it was the monster that was driving them to the surface. If it saw
the ship it would pluck the hapless sailors from the boat and drag them to a watery grave.

This terrifying legend occupied the mind and pen of the poet Alfred Lord Tennyson too. In his short 1830
poem The Kraken he wrote: "Below the thunders of the upper deep, / Far far beneath in the abysmal sea, /
His ancient, dreamless, uninvaded sleep / The Kraken sleepeth."

The deeper we travel into the ocean, the deeper we delve into our own psyche. And when we can go no
further - there lurks the Kraken.

Most likely the Kraken is based on a real creature - the giant squid. The huge mollusc takes pride of
place as the personification of the terrors of the deep sea. Sailors would have encountered it at the surface,
dying, and probably thrashing about. It would have made a weird sight, "about the most alien thing you can
imagine," says Edith Widder, CEO at the Ocean Research and Conservation Association.

"It has eight lashing arms and two slashing tentacles growing straight out of its head and it's got serrated
suckers that can latch on to the slimiest of prey and it's got a parrot beak that can rip flesh. It's got an eye
the size of your head, it's got a jet propulsion system and three hearts that pump blue blood."

The giant squid continued to dominate stories of sea monsters with the famous 1870 novel, Twenty
Thousand Leagues Under the Sea, by Jules Verne. Verne's submarine fantasy is a classic story of puny
man against a gigantic squid.

The monster needed no embellishment - this creature was scary enough, and Verne incorporated as
much fact as possible into the story, says Emily Alder from Edinburgh Napier University. "Twenty Thousand
Leagues Under the Sea and another contemporaneous book, Victor Hugo's Toilers of the Sea, both tried to
represent the giant squid as they might have been actual zoological animals, much more taking the squid
as a biological creature than a mythical creature." It was a given that the squid was vicious and would
readily attack humans given the chance.

That myth wasn't busted until 2012, when Edith Widder and her colleagues were the first people to
successfully film giant squid under water and see first-hand the true character of the monster of the deep.
They realised previous attempts to film squid had failed because the bright lights and noisy thrusters on
submersibles had frightened them away.

By quietening down the engines and using bioluminescence to attract it, they managed to see this most
extraordinary animal in its natural habitat. It serenely glided into view, its body rippled with metallic colours
of bronze and silver. Its huge, intelligent eye watched the submarine warily as it delicately picked at the bait
with its beak. It was balletic and mesmeric. It could not have been further from the gnashing, human-
destroying creature of myth and literature. In reality this is a gentle giant that is easily scared and pecks at
its food.

Another giant squid lies peacefully in the Natural History Museum in London, in the Spirit Room, where it
is preserved in a huge glass case. In 2004 it was caught in a fishing net off the Falkland Islands and died at
the surface. The crew immediately froze its body and it was sent to be preserved in the museum by the
Curator of Molluscs, Jon Ablett. It is called Archie, an affectionate short version of its Latin name
Architeuthis dux. It is the longest preserved specimen of a giant squid in the world.

"It really has brought science to life for many people," says Ablett. "Sometimes I feel a bit overshadowed
by Archie, most of my work is on slugs and snails but unfortunately most people don't want to talk about
that!"

And so today we can watch Archie's graceful relative on film and stare Archie herself (she is a female)
eye-to-eye in a museum. But have we finally slain the monster of the deep? Now we know there is nothing
to be afraid of, can the Kraken finally be laid to rest? Probably not says Classen. "We humans are afraid of
the strangest things. They don't need to be realistic. There's no indication that enlightenment and scientific
progress has banished the monsters from the shadows of our imaginations. We will continue to be afraid of
very strange things, including probably sea monsters."

Indeed we are. The Kraken made a fearsome appearance in the blockbuster series Pirates of the
Caribbean. It forced Captain Jack Sparrow to face his demons in a terrifying face-to-face encounter. Pirates
needed the monstrous Kraken, nothing else would do. Or, as the German film director Werner Herzog put
it, "What would an ocean be without a monster lurking in the dark? It would be like sleep without dreams."

Questions 17

Do the following statements agree with the information given in Reading Passage 1?

In boxes 17 on your answer sheet, write

TRUE if the statement agrees with the information

FALSE if the statement contradicts the information

NOT GIVEN if there is no information on this

1. Matthias Classen is unsure about the possibility of monster's

existence.

2. Kraken is probably based on an imaginary animal.

3. Previous attempts on filming the squid had failed due to the fact that the creature was
scared.
4. Giant squid was caught alive in 2004 and brought to the
museum.

5. Jon Ablett admits that he likes Archie.

6. According to Classen, people can be scared both by imaginary and real
monsters.

7. Werner Herzog suggests that Kraken is essential to the ocean.

Questions 812

Choose the correct letter, A, B, C or D.

Write the correct letter in boxes 812 on your answer sheet.

8. Who wrote a novel about a giant squid?

A. Emily Alder

B. Stephen King

C. Alfred Lord Tennyson

D. Jules Verne
9. What, of the featuring body parts, mollusc DOESN'T have?

A. two tentacles

B. serrated suckers

C. beak

D. smooth suckers
10. Which of the following applies to the bookish Kraken?

A. notorious

B. scary

C. weird

D. harmless
11. Where can we see a giant squid?

A. at the museum

B. at a seaside

C. on TV

D. in supermarkets
12. The main purpose of the text is to:

A. help us to understand more about both mythical and biological creatures of the
deep<strong< li=""></strong<>

B. illustrate the difference between Kraken and squid

C. shed the light on the mythical creatures of the ocean

D. compare Kraken to its real relative

Questions 1316

Complete the sentences below.

Write NO MORE THAN THREE WORDS from the passage for each answer.

Write your answers in boxes 1316 on your answer sheet.

13. According to the Victor Hugo's novel, the squid would if he had such opportunity.

14. The real squid appeared to be and .

15. Archie must be the of its kind on Earth.

16. We are able to encounter the Kraken's in a movie franchise.

The atom bomb was one of the defining inventions of the 20th Century. So how did science fiction
writer HG Wells predict its invention three decades before the first detonations?

(A) Imagine you're the greatest fantasy writer of your age. One day you dream up the idea of a bomb of
infinite power. You call it the "atomic bomb". HG Wells first imagined a uranium-based hand grenade that
"would continue to explode indefinitely" in his 1914 novel The World Set Free. He even thought it would be
dropped from planes. What he couldn't predict was how a strange conjunction of his friends and
acquaintances - notably Winston Churchill, who'd read all Wells's novels twice, and the physicist Leo
Szilard - would turn the idea from fantasy to reality, leaving them deeply tormented by the scale of
destructive power that it unleashed.

(B) The story of the atom bomb starts in the Edwardian age, when scientists such as Ernest Rutherford
were grappling with a new way of conceiving the physical world. The idea was that solid elements might be
made up of tiny particles in atoms. "When it became apparent that the Rutherford atom had a dense
nucleus, there was a sense that it was like a coiled spring," says Andrew Nahum, curator of the Science
Museum's Churchill's Scientists exhibition. Wells was fascinated with the new discoveries. He had a track
record of predicting technological innovations. Winston Churchill credited Wells for coming up with the idea
of using aeroplanes and tanks in combat ahead of World War One.

(C) The two men met and discussed ideas over the decades, especially as Churchill, a highly popular
writer himself, spent the interwar years out of political power, contemplating the rising instability of Europe.
Churchill grasped the danger of technology running ahead of human maturity, penning a 1924 article in the
Pall Mall Gazette called "Shall we all commit suicide?". In the article, Churchill wrote: "Might a bomb no
bigger than an orange be found to possess a secret power to destroy a whole block of buildings - nay to
concentrate the force of a thousand tons of cordite and blast a township at a stroke?" This idea of the
orange-sized bomb is credited by Graham Farmelo, author of Churchill's Bomb, directly to the imagery of
The World Set Free.

(D) By 1932 British scientists had succeeded in splitting the atom for the first time by artificial means,
although some believed it couldn't produce huge amounts of energy. But the same year the Hungarian
emigre physicist Leo Szilard read The World Set Free. Szilard believed that the splitting of the atom could
produce vast energy. He later wrote that Wells showed him "what the liberation of atomic energy on a large
scale would mean". Szilard suddenly came up with the answer in September 1933 - the chain reaction -
while watching the traffic lights turn green in Russell Square in London. He wrote: "It suddenly occurred to
me that if we could find an element which is split by neutrons and which would emit two neutrons when it
absorbed one neutron, such an element, if assembled in sufficiently large mass, could sustain a nuclear
chain reaction."

(E) In that eureka moment, Szilard also felt great fear - of how a bustling city like London and all its
inhabitants could be destroyed in an instant as he reflected in his memoir published in 1968:
"Knowing what it would mean - and I knew because I had read HG Wells - I did not want this patent to
become public." The Nazis were on the rise and Szilard was deeply anxious about who else might be
working on the chain reaction theory and an atomic Bomb. Wells's novel Things To Come, turned into a
1936 film, The Shape of Things to Come, accurately predicted aerial bombardment and an imminent
devastating world war. In 1939 Szilard drafted the letter Albert Einstein sent to President Roosevelt warning
America that Germany was stockpiling uranium. The Manhattan Project was born.

(F) Szilard and several British scientists worked on it with the US military's massive financial backing.
Britons and Americans worked alongside each other in "silos" - each team unaware of how their work fitted
together. They ended up moving on from the original enriched uranium "gun" method, which had been
conceived in Britain, to create a plutonium implosion weapon instead. Szilard campaigned for a
demonstration bomb test in front of the Japanese ambassador to give them a chance to surrender. He was
horrified that it was instead dropped on a city. In 1945 Churchill was beaten in the general election and in
another shock, the US government passed the 1946 McMahon Act, shutting Britain out of access to the
atomic technology it had helped create. William Penney, one of the returning Los Alamos physicists, led the
team charged by Prime Minister Clement Atlee with somehow putting together their individual pieces of the
puzzle to create a British bomb on a fraction of the American budget.
 (G) "It was a huge intellectual feat," Andrew Nahum observes. "Essentially they reworked the
calculations that they'd been doing in Los Alamos. They had the services of Klaus Fuchs, who [later] turned
out to be an atom spy passing information to the Soviet Union, but he also had a phenomenal memory."
Another British physicist, Patrick Blackett, who discussed the Bomb after the war with a German scientist in
captivity, observed that there were no real secrets. According to Nahum he said: "It's a bit like making an
omelette. Not everyone can make a good one."When Churchill was re-elected in 1951 he "found an almost
complete weapon ready to test and was puzzled and fascinated by how Atlee had buried the costs in the
budget", says Nahum. "He was very conflicted about whether to go ahead with the test and wrote about
whether we should have 'the art and not the article'. Meaning should it be enough to have the capability
[rather] than to have a dangerous weapon in the armoury."

(H) Churchill was convinced to go ahead with the test, but the much more powerful hydrogen bomb
developed three years later worried him greatly.HG Wells died in 1946. He had been working on a film
sequel to The Shape of Things To Come that was to include his concerns about the now-realised atomic
bomb he'd first imagined. But it was never made. Towards the end of his life, says Nahum, Wells's
friendship with Churchill "cooled a little". "Wells considered Churchill as an enlightened but tarnished
member of the ruling classes." And Churchill had little time for Wells's increasingly fanciful socialist utopian
ideas.

(I) Wells believed technocrats and scientists would ultimately run a peaceful new world order like in The
Shape of Things To Come, even if global war destroyed the world as we knew it first. Churchill, a former
soldier, believed in the lessons of history and saw diplomacy as the only way to keep mankind from self-
destruction in the atomic age. Wells's scientist acquaintance Leo Szilard stayed in America and
campaigned for civilian control of atomic energy, equally pessimistic about Wells's idea of a bold new
scientist-led world order. If anything Szilard was tormented by the power he had helped unleash. In 1950,
he predicted a cobalt bomb that would destroy all life on the planet. In Britain, the legacy of the Bomb was a
remarkable period of elite scientific innovation as the many scientists who had worked on weaponry or
radar returned to their civilian labs. They gave us the first commercial jet airliner, the Comet, near-
supersonic aircraft and rockets, highly engineered computers, and the Jodrell Bank giant moveable radio
telescope.

(J) The latter had nearly ended the career of its champion, physicist Bernard Lovell, with its huge costs,
until the 1957 launch of Sputnik, when it emerged that Jodrell Bank had the only device in the West that
could track it. Nahum says Lovell reflected that "during the war the question was never what will something
cost. The question was only can you do it and how soon can we have it? And that was the spirit he took
into his peacetime science." Austerity and the tiny size of the British market, compared with America, were
to scupper those dreams. But though the Bomb created a new terror, for a few years at least, Britain saw a
vision of a benign atomic future, too and believed it could be the shape of things to come.

Questions 1725

Reading Passage 2 has ten paragraphs, AJ.

Which paragraph contains the following information?

Write the correct letter, AJ, in boxes 1725 on your answer sheet. Note that one paragraph is not used.

17. Scientific success

18. Worsening relations

19. The dawn of the new project

20. Churchill's confusion

21. Different perspectives

22. Horrifying prediction

23. Leaving Britain behind the project

24. Long-term discussion

25. New idea

Questions 2627

Choose the correct letter, A, B, C or D.

Write the correct letter in boxes 2627 on your answer sheet.

26. How can you describe the relations between Churchill and Wells throughout the years?

A. passionate friendly adverse

B. curious friendly

C. respectful friendly inhospitable

D. friendly respectful hostile

27. What is the type of this text?

A. science-fiction story

B. article from the magazine

C. historical text

D. Wells autobiography

As More Tech Start-Ups Stay Private, So Does the Money

 Not long ago, if you were a young, brash technologist with a world-conquering start-up idea, there was a
good chance you spent much of your waking life working toward a single business milestone: taking your
company public.

Though luminaries of the tech industry have always expressed skepticism and even hostility toward the
finance industry, techs dirty secret was that it looked to Wall Street and the ritual of a public offering for
affirmation not to mention wealth.

But something strange has happened in the last couple of years: The initial public offering of stock has
become dclass. For start-up entrepreneurs and their employees across Silicon Valley, an initial public
offering is no longer a main goal. Instead, many founders talk about going public as a necessary evil to be
postponed as long as possible because it comes with more problems than benefits.

If you can get $200 million from private sources, then yeah, I dont want my company under the scrutiny
of the unwashed masses who dont understand my business, said Danielle Morrill, the chief executive of
Mattermark, a start-up that organizes and sells information about the start-up market. Thats actually
terrifying to me.

Silicon Valleys sudden distaste for the I.P.O. rooted in part in Wall Streets skepticism of new tech
stocks may be the single most important psychological shift underlying the current tech boom. Staying
private affords start-up executives the luxury of not worrying what outsiders think and helps them avoid the
quarterly earnings treadmill.

It also means Wall Street is doing what it failed to do in the last tech boom: using traditional metrics like
growth and profitability to price companies. Investors have been tough on Twitter, for example, because its
user growth has slowed. They have been tough on Box, the cloud-storage company that went public last
year, because it remains unprofitable. And the e-commerce company Zulily, which went public last year,
was likewise punished when it cut its guidance for future sales.

Scott Kupor, the managing partner at the venture capital firm Andreessen Horowitz, and his colleagues
said in a recent report that despite all the attention start-ups have received in recent years, tech stocks are
not seeing unusually high valuations. In fact, their share of the overall market has remained stable for 14
years, and far off the peak of the late 1990s.

That unwillingness to cut much slack to young tech companies limits risk for regular investors. If the
bubble pops, the unwashed masses, if thats what we are, arent as likely to get washed out.

Private investors, on the other hand, are making big bets on so-called unicorns the Silicon Valley
jargon for start-up companies valued at more than a billion dollars. If many of those unicorns flop, most
Americans will escape unharmed, because losses will be confined to venture capitalists and hedge funds
that have begun to buy into tech start-ups, as well as tech founders and their employees.

The reluctance and sometimes inability to go public is spurring the unicorns. By relying on private
investors for a longer period of time, start-ups get more runway to figure out sustainable business models.
To delay their entrance into the public markets, firms like Airbnb, Dropbox, Palantir, Pinterest, Uber and
several other large start-ups are raising hundreds of millions, and in some cases billions, that they would
otherwise have gained through an initial public offering.

These companies are going public, just in the private market, Dan Levitan, the managing partner of the
venture capital firm Maveron, told me recently. He means that in many cases, hedge funds and other global
investors that would have bought shares in these firms after an I.P.O. are deciding to go into late-stage
private rounds. There is even an oxymoronic term for the act of obtaining private money in place of a public
offering: Its called a private I.P.O.

The delay in I.P.O.s has altered how some venture capital firms do business. Rather than waiting for an
initial offering, Maveron, for instance, says it now sells its stake in a start-up to other, larger private
investors once it has made about 100 times its initial investment. It is the sort of return that once was only
possible after an I.P.O.

But there is also a downside to the new aversion to initial offerings. When the unicorns do eventually go
public and begin to soar or whatever it is that fantastical horned beasts tend to do when theyre healthy
the biggest winners will be the private investors that are now bearing most of the risk.

It used to be that public investors who got in on the ground floor of an initial offering could earn historic
gains. If you invested $1,000 in Amazon at its I.P.O. in 1997, you would now have nearly $250,000. If you
had invested $1,000 in Microsoft in 1986, you would have close to half a million. Public investors today are
unlikely to get anywhere near such gains from tech I.P.O.s. By the time tech companies come to the
market, the biggest gains have already been extracted by private backers.

Just 53 technology companies went public in 2014, which is around the median since 1980, but far fewer
than during the boom of the late 1990s and 2000, when hundreds of tech companies went public annually,
according to statistics maintained by Jay Ritter, a professor of finance at the University of Florida. Todays
companies are also waiting longer. In 2014, the typical tech company hitting the markets was 11 years old,
compared with a median age of seven years for tech I.P.O.s since 1980.

Over the last few weeks, Ive asked several founders and investors why theyre waiting; few were willing
to speak on the record about their own companies, but their answers all amounted to Whats the point?

Initial public offerings were also ways to compensate employees and founders who owned lots of stock,
but there are now novel mechanisms such as selling shares on a secondary market for insiders to
cash in on some of their shares in private companies. Still, some observers cautioned that the new trend
may be a bad deal for employees who arent given much information about the companys performance.

One thing employees may be confused about is when companies tell them, Were basically doing a
private I.P.O., it might make them feel like theres less risk than there really is, said Ms. Morrill of
Mattermark. But she said it was hard to persuade people that their paper gains may never materialize. The
Kool-Aid is really strong, she said.

If the delay in I.P.O.s becomes a normal condition for Silicon Valley, some observers say tech
companies may need to consider new forms of compensation for workers. We probably need to
fundamentally rethink how do private companies compensate employees, because thats going to be an
issue, said Mr. Kupor, of Andreessen Horowitz.

During a recent presentation for Andreessen Horowitzs limited partners the institutions that give
money to the venture firm Marc Andreessen, the firms co-founder, told the journalist Dan Primack that
he had never seen a sharper divergence in how investors treat public- and private-company chief
executives. They tell the public C.E.O., Give us the money back this quarter, and they tell the private
C.E.O., No problem, go for 10 years, Mr. Andreessen said.

At some point this tension will be resolved. Private valuations will not forever be higher than public
valuations, said Mr. Levitan, of Maveron. So the question is, Will private markets capitulate and go down
or will public markets go up?

If the private investors are wrong, employees, founders and a lot of hedge funds could be in for a
reckoning. But if theyre right, it will be you and me wearing the frown the public investors who missed
out on the next big thing.

Questions 2831

Choose the correct letter, A, B, C or D.

Write the correct letter in boxes 2831 on your answer sheet.

28. How much funds would you gain by now, if you had invested 1000$ in the Amazon in 1997?

A. 250,000$

B. close to 500,000$

C. It is not stated in the text

D. No funds

29. Nowadays founders talk about going public as a:

A. necessity.

B. benefit.

C. possibility.

D. profit.

30. In which time period was the biggest number of companies going public?

A. early 1990s

B. late 1900s and 2000s

C. 1980s

D. late 1990s

31. According to the text, which of the following is true?

A. Private valuations may be forever higher than public ones.

B. Public valuations eventually will become even less valuable.

C. The main question is whether the public market increase or the private market decrease.

D. The pressure might last for a long time.

Questions 3236
Complete the sentences below.

Write ONLY ONE WORD from the passage for each answer.

Write your answers in boxes 3236 on your answer sheet.

32. Skepticism was always expected by the of tech industry.

33. The new aversion to initial offerings has its .

34. Selling shares on a secondary market is considered a mechanism.

35. Workers' compensation might be an .

36. The public investors who failed to participate in the next big thing might be the ones wearing
the .

Questions 3740

Do the following statements agree with the information in the IELTS reading text?

In boxes 3740 on your answer sheet, write

TRUE if the statement agrees with the information

FALSE if the statement contradicts the information

NOT GIVEN if there is no information on this

37. Private investors are bearing most of the risk.

38. Not many investors were willing to speak on the record.

39. The typical tech company hitting the markets in 1990s was 5 years
old.

40. Marc Andreessen, the firm's co-founder, expressed amazement with divergency in how investors treat
public.

ANSWERS
1. False
2. False
3. True
4. False
5. Not Given
6. True
7. Not Given
8. D
9. D
10. B
11. A
12. A
13. readily attack (humans)
14. balletic, mesmeric
15. longest preserved specimen
16. fearsome appearance

17. D
18. H
19. E
20. G
21. I
22. A
23. F
24. C
25. B
26. C
27. B

28. A
29. A
30. B
31. C
32. luminaries
33. downside
34. novel
35. issue
36. frown
37. True
38. True
39. Not Given
40. False